State Minister of Money, Capital Market and Public Enterprise Reform Nivard Cabraal
Global financial giant Citi has cautioned Sri Lanka that its denial of a debt crisis shouldn’t be a strategy, and called for effective restructuring and boosting of income streams.
In a latest assessment, ‘Sri Lanka Economics and Strategy View,’ Citi Research said Sri Lanka’s debt was on an unsustainable path, but the Government appeared to be in denial.
“While officials continue to mention their willingness to pay, we cannot see a credible strategy for achieving debt sustainability and (external) repayment capacity beyond talking up their growth prospects and expecting this to attract FDI and other portfolio equity inflows,” the research document said.